LA bans cash for some retail sales

[billwald]

http://www.klfy.com/story/15717759/second-hand-dealer-law

Businesses that sell used goods will not be allowed to accept cash. Sounds like a violation of federal law.

 

[matt wade]

This is a horrible, horrible piece of legislation. If I was in LA I would fight hard against it.

 

[Bro. Curtis]

"This note is legal tender for ALL debts, public and private."

It will never stand.

 

[matt wade]

"This note is legal tender for ALL debts, public and private."

It will never stand.

I don't think the law will stand either, but it won't fall based upon this line. That refers to debts, not the purchase of goods or services. A transaction where money is exchanged immediately does not fall under the designation of a "debt".

I guess store holders to probably find a loop hole here where they could extend the good on credit and then the people could pay that debt with cash. It would require more paperwork than it was worth though.

 

[plain_n_simple]

The law will change. It will be a total electronic exchange soon, and you'll never stop it.